The petrol and diesel prices were with effect from midnight June 1, 2017. Price of petrol was raised by INR 1.23 per litre while diesel became expensive by INR 0.89 paise per litre. Previously, prices of petrol and diesel were reduced by Rs 2.16 per litre and Rs 2.10 a litre respectively on May 16, 2017.
With the new prices in effect, a litre of petrol will cost INR 66.91 per litre as against Rs 65.32 a litre in Delhi. Similarly, a litre of diesel will be priced at INR 55.94, as compared to Rs 54.90 at present in Delhi. Indian Oil Corp (IOC) said that the rates have been hiked excluding local state levies or VAT and actual increase will be higher depending on tax rate.
IOC said in a statement that the current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision.
With inputs from PTI